Mid-Year Adjustment Clause Samples
A Mid-Year Adjustment clause allows for changes to be made to an agreement or contract partway through its term, typically in response to unforeseen circumstances or significant changes in relevant factors. This clause may permit parties to revisit pricing, service levels, or other key terms based on updated information or shifts in market conditions. Its core practical function is to provide flexibility and ensure that the contract remains fair and workable for all parties as circumstances evolve during the contract period.
Mid-Year Adjustment. In addition to the annual adjustment, the TRUST may implement a mid-year adjustment to the Facility O&M Fees in any given Contract Year when the TRUST determines that the current costs are estimated to be ten percent (10%) lower or higher than budget set for Facility O&M Fees during the same period of the then Contract Year. TRUST will notify and hold a consultation meeting with the On Airport RAC’S at least thirty (30) days prior to the implementation of a mid-year adjustment, at which time the effective date for such rate adjustment will be provided.
Mid-Year Adjustment. To allow for a projected change in the maximum sale price between publication dates of the AMI, the maximum sale price may be changed by a "mid-year adjustment" calculated as follows:
1. The City-approved purchase price paid by Owner, multiplied by the following estimate of the as yet unpublished change in the AMI: One-half of the average annual percentage change in the AMI over the previous two years divided by twelve and multiplied by the number of months between the last publication of the AMI and the date of sale of the unit. Note: this adjustment is based on “one-half of the average” in order to apply a conservative estimate of the change in the AMI.
2. However, no mid-year adjustment shall be included unless at least four months have passed between the last publication of the AMI and the date of calculation of the sale price of the Property.
3. If the "mid-year adjustment" is included in the sale price at any sale, on the next sale the price calculation will be adjusted as follows: the amount of mid-year adjustment which was included in the price paid by Owner shall be subtracted from the price paid by owner. This is to assure that the price is not changed by both the mid-year adjustment (which is based on a future estimate of the AMI), and the actual change in the AMI which later became known. For Owners not in violation of the Covenant, the City’s policy is that an Owner’s calculated maximum resale price will not be less than their purchase price. However, the maximum calculated sale price is not a guarantee that the Owner will be able to sell for that price due to market conditions or due to specific project requirements. If the Property sells for less than the maximum calculated sales price, such lower price becomes the basis for the calculation of the maximum sale price upon the next sale of the Property.
Mid-Year Adjustment. Any salary adjustment made on February 28 shall be paid only for those contract days between February 1 and the end of the school year.
Mid-Year Adjustment. Subject to sub- 20 sections (i)(1)(B) and (k), for each fiscal year, the 21 Commission shall determine, by March 1 of such fis- 22 cal year, whether, based on the actual aggregate dol- 23 lar volume of sales during the first 5 months of such 24 fiscal year, the baseline estimate of the aggregate 25 dollar volume of sales used under paragraph (1) for 1 such fiscal year is reasonably likely to be 10 percent 2 (or more) greater or less than the actual aggregate 3 dollar volume of sales for such fiscal year. If the 4 Commission so determines, the Commission shall by 5 order, no later than March 1, adjust each of the 6 rates applicable under subsections (b) and (c) for 7 such fiscal year to a uniform adjusted rate that, 8 when applied to the revised estimate of the aggre- 9 gate dollar amount of sales for the remainder of 10 such fiscal year, is reasonably likely to produce ag- 11 gregate fee collections under this section (including 12 fees collected during such five-month period and as- 13 sessments collected under subsection (d) of this sec- 14 tion) that are equal to the regular appropriation to 15 the Commission by Congress for such fiscal year. In 16 making such revised estimate, the Commission shall, 17 after consultation with the Congressional Budget Of- 18 fice and the Office of Management and Budget, use 19 the same methodology required by subsection (l). 20 ‘‘(3) REVIEW.—In exercising its authority 21 under this subsection, the Commission shall not be 22 required to comply with the provisions of section 553 23 of title 5, United States Code. An adjusted rate pre- 24 scribed under paragraph (1) or (2) and published 1 under subsection (g) shall not be subject to judicial